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Opinion on  Netflix Inc (NFLX)     Sector: Services  >  Industry: Recreational Activities
Netflix Pops Some

Sep 05, 2007 06:24 AM UTC
Return Risk
-26.00% LOW
Tracked Blogger

Fundamental Analysis   Analyst Recommendation  
Via financialskeptic.blogspot.com/:  

Netflix (NFLX) shares rallied some because Wedbush Morgan analyst Michael Pachter upgraded the stock to "Hold" from "Sell" and raised his price target to $18 from $15.
Part of the rationale is that Movie Gallery (MOVI)is expected to give up the ghost by the end of this calender year. He also expects Blockbuster (BBI) to reduce marketing spending.

Yes Movie Gallery has been parked in front of the coroners office for some time now. If they close 1,000 stores everyone will pick up a piece of a shrinking pie for a little while.

The future is online downloads. Neither Netflix or Blockbuster are good at downloads. At this stage in the game if either had figured out downloads the market would have bought in.

Essentially Netflix and Blockbuster are about to replicate Movie Gallery. There may be some residual marketing values in the name that a download service may want. These brand values are eroding fast.

Netflix and Blockbuster are on the "Highway to Hell". Some temporary share price appreciation will most likely not hold in anything approximating the medium to long term.

This is a tracking account  [?]   SocialPicks is not affiliated with George Gutowski. The POS/NEG sentiment is automatically determined by SocialPicks from this blog post and should not be recognized as a position recommendation by George Gutowski

NFLX:  This call was made on 09/05/07 @ $18.06
Rating:   Neutral/Hold   $18.06 (09/05/07)
Gain/Loss:   +8.14% in 444 days


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